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Fuling Global Inc. Reports Fourth Quarter and Fiscal Year 2016 Financial Results

Date:Mar 27,2017

Sales Volume and Revenues Increased by 40.6% and 37.5%, Respectively, in the Fourth Quarter, Capping a Historical Year for the Company

ALLENTOWN, Pa., March 15, 2017 /PRNewswire/ -- Fuling Global Inc. (NASDAQ: FORK) ("Fuling Global" or the "Company"), an environmentally-friendly specialized producer and distributor of plastic serviceware, with precision manufacturing facilities in both the U.S. and China, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2016.

Mr. Xinfu Hu, Chief Executive Officer of Fuling Global, commented, "We are pleased to report strong financial results for the fourth quarter of 2016. With overall sales volume increasing by 40.6% year-over-year that more than offset the decrease in average selling prices ("ASP"), our revenues grew by 37.5% to another record high of $31.8 million in the fourth quarter, capping a historical year in both sales volume and revenues for the Company".

"As we couldn't produce enough to meet growing demand for our products in recent months due to capacity constraint, our new fourth factory in China is well underway with its construction to be completed by end of this month and production to commence in April. This new factory will more than double Fuling Global's capacity in the next three years.  Our U.S. factory in Pennsylvania will add injection molding plastic manufacturing in the third quarter of 2017.  With continuing strong demand from our existing and new customers and the imminent launch of our fourth factory in China, Fuling Global is poised to extend its strong run of growth in 2017 and beyond," added Ms. Guilan Jiang, Chairwoman of Fuling Global.

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